Efama noted that net sales of both non-Ucits and special funds reserved for institutional investors increased through March, to €18bn from €12bn and to €15bn from €9bn respectively.

Total assets of Ucits stood at €6.697trn at the end of March, and increase of some 2.3% over the month. Total net assets including non-Ucits hit €9.341trn.

Peter de Proft, director general of Efama (pictured), said: “Despite renewed uncertainties caused by the bail-out package for Cyprus, total net sales of Ucits and non-Ucits remained in March at the same high level as in February, highlighting investor confidence about investment prospects.”